MPs urge compulsory refunds for victims of bank transfer fraud

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Report also favours backdating reimbursals and a pause before money is paid to new recipients

Financial companies should be required by law to refund victims of bank transfer scams, and should consider reimbursing the many thousands defrauded since 2016, according to a report from MPs.

They also said retailers and other companies that suffer data breaches that lead to fraud should be forced to pick up the bill for the costs of reimbursing customers and issuing new bank cards.

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from The Guardian https://ift.tt/36r0hDM

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